Connect with us

Stocks

Asian Markets Tread Lightly Amidst Lackluster Consumer Confidence

Published

on

asian stock market global

Asian markets showed limited movement on Wednesday following the release of uninspiring consumer confidence data. The subdued sentiment was influenced by statements from US Federal Reserve officials and upcoming economic indicators.

On Tuesday, global stocks mostly gained ground, despite reports indicating a lack of optimism among consumers in the US and Germany. The Conference Board revealed a larger-than-expected decline in US consumer confidence for February, highlighting concerns about the labor market and the political environment. In Germany, consumer outlook remained pessimistic, and intentions for significant purchases showed little change from the previous month, as reported by pollster GfK.

US stocks closed with minimal changes on Tuesday, with investors awaiting crucial economic data, including the Federal Reserve’s preferred inflation gauge. The US Personal Consumption Expenditure (PCE) price index, along with consumer income and initial jobless claims data, is scheduled for release on Thursday.

Investors are closely monitoring comments from three Fed officials later on Wednesday, seeking insights into the central bank’s stance on rate cuts. Anticipations for US interest rate reductions have shifted to later in the year due to hotter-than-expected inflation data and policymakers requiring further evidence of progress toward their 2.0 percent inflation target.

Despite a recent chorus of officials expressing concerns, Fed governor Michelle Bowman stated that she expects inflation to decrease while keeping rates unchanged. She emphasized that it is premature to consider rate reductions.

In the Asian markets, Tokyo stocks opened flat, reflecting mixed performance in US shares. Speculation arose among analysts about a potential interest rate hike by the Bank of Japan in April or even sooner, following better-than-expected Japanese consumer inflation data.

Shanghai experienced a positive opening, and other markets such as Seoul, Wellington, Mumbai, Jakarta, and Manila also traded higher. However, Hong Kong, Sydney, Taipei, Singapore, Bangkok, and Kuala Lumpur faced declines.

G20 finance ministers and central bank heads are convening in Brazil to address challenges to the global economy, including conflicts in Ukraine and Gaza, threatening its nascent recovery. Investor attention is expected to shift to Chinese manufacturing data on Friday.

Share this

Stocks

Heidelberg Cement Discloses their Q3 Financials

Published

on

Heidelberg Cement

One of the listed companies,Heidelberg Cement Bangladesh Limited discloses its financial reports for the first quarter, (January – March 24).

The company’s earnings per share (EPS) was Tk 6.96 paisa in Q1 of the current financial year (January – March 24). EPS was Tk 6.85 paisa during the same period last year. NAV per share was Tk. 74.16 as of March 31, 2024.

Share this
Continue Reading

Stocks

Matin Spinning Reports Impressive EPS Growth in Q3

Published

on

Matin Spinning

One of the listed companies, Matin Spinning Mills PLC discloses its financial reports for the third quarter, (January – March 24).

The company’s earnings per share (EPS) was Tk 0.98 paisa in Q3 of the current financial year (January – March 24). EPS was Tk 0.11 paisa during the same period last year. NAV per share  (with revaluation reserves) was Tk. 57.19 as on March 31, 2024.

Share this
Continue Reading

Stocks

EPS hikes for Prime Bank in Q1

Published

on

Prime Bank

One of the listed companies, Prime Bank PLC discloses its financial reports for the first quarter, (January – March 24).

The company’s Consolidated earnings per share (EPS) was Tk 1.16 paisa in Q1 of the current financial year (January – March 24). Consolidated EPS was Tk 0.92 paisa during the same period last year. Consolidated NAV per share was Tk. 31.93 as of March 31, 2024.

Share this
Continue Reading